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S&P 500 Index Outperforming NASDAQ Composite on Back of Strong Energy Sector

Eric Stanberg

Dec 22, 2022 16:21

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On the basis of Wednesday's pre-market trading, the main US stock indices are expected to rise. A great performance by Nike is supporting the markets, but lower Treasury rates are also contributing to some of the upward momentum.


Blue chip Dow Jones Industrial Average futures are now trading at 33367.00, up 314.00 or +0.95%, at 14:21 GMT. The tech-heavy NASDAQ Composite Index is trading at 11223.75, up 48.00 or +0.43%, while the benchmark S&P 500 Index is at 3877.25, up 28.00 or +0.73%.


Because Nike, a component of the Dow, is its strongest performer and posted an 11% rise during the pre-market session, the Dow is showing the largest gain.

Surge and Lifts Nike Dow, S&P 500

The Dow and S&P 500 are being supported by Nike's remarkable share performance. Late on Tuesday, the world's largest athletic shoe business released quarterly earnings that handily exceeded Wall Street's forecasts while also improving its outlook. The firm highlighted its achievement in reducing its sizable inventory stockpile.

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